As the Bengaluru real estate market is in expansion mode, new suburbs are emerging as new real estate destinations. The international airport has been a primary driver, leading to the emergence of many new locations in north Bengaluru.
The Confederation of Real Estate Developers' Association of India (Credai) says it is thinking of suspending from its membership some companies in the National Capital Region (NCR) which have repeatedly gone back on promises to buyers.
You had approached a broker six months earlier to sell your house. He would call with daily updates about prospective clients he'd shown the flat to and the interest they showed. It'd get sold soon, the broker assured.
Titwala is an emerging residential destination of Thane district in Maharashtra. This area has enjoyed traditional prominence as a major pilgrimage destination, as it houses the famous Siddhivinayak Mahaganapathi Temple.
Of late, there has been much talk of an imminent crash in residential real estate. The sector is expected to crumble under the weight of high inventories. After the clampdown on black money, fresh sales have come to a halt.
The real estate sector presents a daunting picture with revival prospects appearing to be bleak. Inventories of leading firms, mostly listed, as at the end of the last financial year stand at a colossal Rs 70,000 crore, representing 30 months' sale.